Burberry and Asos shares slide 7% as both fashion giants show weak growth

British retailers Burberry and Asos suffered rough ride on the markets today after both showed evidence that growth has tailed off.
Burberry was crippled by a poor performance in Hong Kong and mainland China as revenue slipped 4 per cent over the past six months.
Meanwhile Asos said sales will increase by 20 per cent to 25 per cent in its 2017 financial year, which according to analysts represents a slowdown at constant currency rates.
Both fashion giants saw their share price fall around 7 per cent.
Ken Odeluga, at City Index, said: 'Historically, Hong Kong in particular, represented... read more

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